"The agreement reached by the Transitional Military Council and the Forces for Freedom and Change in Sudan on a three-year civilian-led transition, as announced by the African Union, is a breakthrough," said a spokesman for EU foreign policy chief Federica Mogherini.
"The efforts of the African Union (AU)/Ethiopian mediation have played a crucial role in facilitating the two sides reaching an agreement," the spokesman added and stressed the need for the speedy formation of a civilian government.
"It is important that the parties implement the agreement reached in good faith and also continue talks on outstanding issues. A competent and an empowered civilian government that can restore peace, deliver economic prosperity and protect the human rights of all in Sudan should be formed promptly."
The EU, said the spokesman, will be ready to engage with such a government on ways to support the transition.
"The European Union is committed to a stable, democratic and prosperous future for Sudan, for the benefit of its people, and will continue its work with all the stakeholders with this objective firmly in mind."
French Foreign Minister Jean-Yves Le Drian issued a statement "saluting" the accord and paying tribute to the "maturity and sense of responsibility of the Sudanese" and the mediation efforts of the AU and Ethiopia.
Encouraging both sides to make good on their commitments, Le Drian said France "stands by the Sudanese to accompany them along the path of democratisation, peace and economic recovery."
The power-sharing deal followed hard-won talks brokered by Ethiopian and AU mediators and came after previous negotiations collapsed in May.